Bellevue Towers Reaches 50% Sold

Congrats to Bellevue Towers on reaching 50% Sold. With 13 sales so far this year, they are off to races. A recovering real estate market is good for all of us. Lets hope all our Seattle and Bellevue projects continue to sell their inventory, while providing great homes for new buyers throughout the year. For more information on this sales milestone, I’ve included their press release below:

Bellevue Towers Reaches 50 Percent Sold

Momentum Continues With 13 New Sales in January

BELLEVUE, WASH. (February 1, 2012) - Bellevue Towers, the region’s largest urban condominium project, has sold 13 new homes in January, bringing the project to 50 percent sold and putting it on track to meet its record setting sales of 2011. With last year’s sales totaling 144 units and $88,940,000 – double the volume of the closest, comparable project in the market – the January 2012 sales of 13 new homes for $11,100,000 confirm Bellevue Towers as the most attractive condominium value currently offered to buyers in the market.

“Our ability to offer limited release prices in early January on select homes had a direct impact on our impressive January sales,” said Patrick Clark, principal with Realty Trust, the brokerage company marketing and selling the project, who also noted that these sales included three $2 million+ homes. “With the support of the Seller, prioritizing sales velocity and value for our buyers has proven to be the right course.” Bellevue Towers sold 13 new units in the month of January at an average cost per square foot of $486 based on the average sold unit size of 1,526 square feet.

Bellevue Towers remaining homes include studio and one-bedroom residences priced from the $300,000s, two-bedroom homes priced from the $600,000s, and spacious penthouses priced from $2 million. These homes range from 807 square feet to 6,398 square feet and represent some of the most generous-sized condominiums in the market, offering the best value on a per square foot basis. Original prices have been reduced on average by 30 percent, with a limited release of new homes reduced by as much as 40 percent from original pricing to generate strong momentum going into the new year.

“The opportunity to purchase a home for 40 percent or more off the peak continues be attractive to many buyers,” said Clark. “Prospective buyers recognize that we are meeting the market in terms of pricing and values, and that has resulted in strong January sales.”

Bellevue Towers consists of a 42-story North Tower and a 43-story South Tower with 539 total homes. Each tower offers its own lobby with dedicated concierge service, while sharing an array of other amenities. Residents of Bellevue Towers have access to a 24,000-square-foot urban garden nestled between the two towers, a private screening room, large dining room with terrace and chef’s kitchen, fitness center, spa and sun deck, and a great room that opens to an expansive outdoor terrace with fireplace and barbecue grill.

The project also features more than 300 original pieces from Northwest artists including Lucinda Parker, Julie Speidel and George Batho. Standard finishes in all Bellevue Towers homes include Viking or Wolf cook tops and ranges, Sub-Zero refrigerators, Bosch dishwashers, full-height granite kitchen-counter backsplashes and master bathrooms finished in marble or travertine.

New pricing information and tours are available Wednesday through Friday from 11 am to 6 pm and on Saturday and Sunday from Noon to 5 pm at 500 106th Avenue NE in downtown Bellevue. Prospective buyers may make arrangements by calling 425.454.9922 or visiting www.bellevuetowers.com.